Launch of mobile banking app for Meghna Bank

RNS Number : 7250E

MobilityOne Limited

13 February 2018

 

13 February 2018

MobilityOne Limited

("MobilityOne", the "Company" or the "Group")

Launch of mobile banking app for Meghna Bank in Bangladesh

MobilityOne (AIM: MBO), the e-commerce infrastructure payment solutions and platform provider, is pleased to announce that the Group via its 55%-owned subsidiary in Bangladesh, Mobility i Tap Pay (Bangladesh) Limited ("MiTP"), has developed a mobile banking app for Meghna Bank Ltd ("Meghna") in Bangladesh. Meghna is a commercial bank which commenced its operations in 2013 in Bangladesh.  It currently has 43 branches in Bangladesh.

The mobile banking app, which can be used for fund transfers, prepaid mobile reloads, ticketing and bill payment, is part of the mobile financial services platform developed by the Group for Meghna, named "Tap 'n Pay". As announced on 15 September 2017,  "Tap  'n  Pay"  uses  Near  Field  Communication (NFC) technology card as a payment instrument and an android based point of sales as the payment device.  An extensive network of partner distributors provides the necessary coverage to support the transactions conducted by the banking agents for bank account opening, digital payments, domestic fund transfers, prepaid mobile reloads, bill payments and purchasing of bus and movie e-tickets.

The mobile banking app will complement the more than 5,000 point of sales terminals deployed in Bangladesh by MiTP for the provision of Meghna's mobile financial services. MiTP and Meghna have a revenue sharing arrangement in place for transaction fees incurred by users of the mobile banking app or point of sales terminals.

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For further information, contact:

MobilityOne Limited                                                                                      [phone]

Dato' Hussian A. Rahman, CEO                                                                  www.mobilityone.com.my

[e-mail]

Allenby Capital Limited (Nominated Adviser and Broker) [phone]

Nick Athanas / James Reeve

About the Group:

MobilityOne provides e-commerce infrastructure payment solutions and platforms through its proprietary technology solutions.

The Group has developed an end-to-end e-commerce solution which connects various service providers across several industries such as banking, telecommunication and transportation through multiple distribution devices including EDC terminals, mobile devices, automated teller machines (ATM) and internet banking.

The Group's technology platform is flexible, scalable and designed to facilitate cash, debit card and credit card transactions from multiple devices while controlling and monitoring the distribution of different products and services.

For more information, refer to our website at www.mobilityone.com.my

About Meghna:

Meghna is a commercial bank which commenced its operations in 2013 in Bangladesh.  Currently Meghna has 43 branches in Bangladesh.

For more information, refer to www.meghnabank.com

 

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